|
PureBytes Links
Trading Reference Links
|
A good question, and one that maybe someone with some time could answer! My
suspicion is that much of the time there would be little difference, but
from time to time there could be substantial differences due to the
different weightings by sector, interest rate sensitivity, commodity
sensitivity, etc.
I am not a good enough statistician to tell you what tests might identify
these kinds of effects, if any. But to the extent that an eyeball comparison
of the index prices is clearly different, then I would have to imagine that
the breadth metrics would vary similarly.
Best
Andrew
-----Original Message-----
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of metastkuser
Sent: Wednesday, October 05, 2005 12:52 PM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: Re: [EquisMetaStock Group] Trading the SPX or SPY
Andrew,
Both the screens (MSTT SPY trading system and Metastock's system) I use rely
on NYSE breadth as a proxy for SPY breadth. Still, is the
discrepancy/inaccuracy from this approach more than say, 5%?
--- In equismetastock@xxxxxxxxxxxxxxx, "Andrew Tomlinson"
<andrew_tomlinson@xxxx> wrote:
>
> I highly recommend that people take a look at Larry's work. Just to
give one
> example, traditional breadth data only exists on a stock exchange
basis -
> NYSE and NASDAQ. Neither match well to tradable indexes. If you use
> NYSE breadth data to trade the S&P 500 or S&P 500 stocks, not only do
> the
prices
> not match (compare a longer term history of the NYSE Comp and the
S&P500),
> the NYSE data includes all kinds of securities that are not common
equities,
> (e.g. preferred) which distorts the breadth data. What Larry's work
does is
> to isolate the breadth information for the exact components of the
index or
> ETF under consideration, eliminating mismatches. Similarly, trading
> the Nasdaq 100 or QQQQ on the basis of NASDAQ Composite breadth data
> is
also a
> mismatch - Larry's data solves the problem.
>
> What I particularly like about this work is that it is not per se
> interpretative - it is providing us with new, more accurate data
from which
> to make our own interpretations.
>
> I have no connection with Larry, but I have great admiration for
what he's
> doing. If you use breadth data at all, take a look at his site.
>
> Andrew
>
>
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
[mailto:equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of Larry Carhartt
> Sent: Wednesday, October 05, 2005 1:36 AM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: RE: [EquisMetaStock Group] Trading the SPX or SPY
>
> I will spare the forum my enthusiasm for composite / breadth data
analysis,
> but both the SPX and SPY (same beast, sort of) are composites. In my
> opinion, if you are not, at least, including composite / breadth
analysis
> when looking at indexes and ETFs, you are trading with one arm tied
behind
> your back. Possible maybe, but often very uncomfortable.
>
> Take a look at these MetaStock charts and decide for yourself:
>
> http://www.masterdata4metastock.com/Example_Chart1.htm
>
> Best,
>
> Larry Carhartt
>
> MasterDATA Composite Plug-in For MetaStock The Only Source for Index
& ETF
> Composite/Breadth Historical MetaStock Data
> www.MasterDATA4MetaStock.com lc@xxxx
> 818-701-6686
>
>
>
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
[mailto:equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of metastkuser
> Sent: Tuesday, October 04, 2005 9:02 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Trading the SPX or SPY
>
>
> Roy's newsletter gave one very good approach to trading SPY.
> Metastock 9.0 came with a built-in template for assessing market
conditions.
>
>
> Does anyone here actively trade SPX/SPY? Can anyone suggest any other
> systems worth looking at?
>
> Thanks!
>
>
>
>
>
>
> Yahoo! Groups Links
>
>
>
>
>
>
>
>
>
>
>
> ------------------------ Yahoo! Groups Sponsor
--------------------~--> Put
> more honey in your pocket. (money matters made easy).
> http://us.click.yahoo.com/r7D80C/dlQLAA/cosFAA/BefplB/TM
> --------------------------------------------------------------------~-
> >
>
>
> Yahoo! Groups Links
------------------------ Yahoo! Groups Sponsor --------------------~--> Try
Online Currency Trading with GFT. Free 50K Demo. Trade
24 Hours. Commission-Free.
http://us.click.yahoo.com/RvFikB/9M2KAA/U1CZAA/BefplB/TM
--------------------------------------------------------------------~->
Yahoo! Groups Links
------------------------ Yahoo! Groups Sponsor --------------------~-->
Try Online Currency Trading with GFT. Free 50K Demo. Trade
24 Hours. Commission-Free.
http://us.click.yahoo.com/RvFikB/9M2KAA/U1CZAA/BefplB/TM
--------------------------------------------------------------------~->
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/equismetastock/
<*> To unsubscribe from this group, send an email to:
equismetastock-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|